Petrol, Diesel Prices Today, July 21: Check Fuel Rates In Delhi, Mumbai, Bengaluru, Kolkata

Petrol and diesel prices in India were unchanged on July 21, with state-run Oil Marketing Companies maintaining retail rates despite recent volatility in international crude oil prices. Brent crude price eased after rising nearly 6% over the previous two sessions as markets assessed diplomatic efforts between the United States and Iran alongside continued military tensions in the Middle East.

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Petrol And Diesel Prices In Major Cities

The latest petrol and diesel prices across key Indian cities are:

Fuel prices are revised by oil marketing companies and are generally updated daily. However, retail rates have remained aligned with the last major revision on May 25 despite fluctuations in crude oil price.

Brent Crude Price Eases After Recent Rally

Brent crude futures fell 0.4% on July 21 to trade below $89 a barrel, retreating from a one-month high. The decline followed a gain of nearly 6% over the previous two sessions.

The movement in crude oil price came as investors assessed reports of mediation efforts between Washington and Tehran. Further, although there are military actions taking place in the region, the geopolitical situation was still ambiguous as a whole.

U.S.-Iran Conflict Keeps Oil Markets On Edge

The U.S. military carried out its 10th consecutive night of strikes on Iran on Monday, while Tehran continued attacks involving tankers in the Persian Gulf. Reports also indicated that Iran had received a proposal from mediators for a 10-day ceasefire aimed at creating space for negotiations on a longer-term agreement.

Traffic through the Strait of Hormuz nearly came to a halt on Monday amid the escalation. The Iran-aligned Houthis also threatened a naval blockade targeting Saudi Arabia, raising concerns about potential disruption to another major oil-producing region.

For Indian consumers, any sustained rise in crude oil price could affect the broader import bill and currency markets, although domestic petrol and diesel rates remained unchanged on Tuesday.

Government Responds To E20 Fuel Concerns

The Centre has dismissed concerns that the 20% ethanol blending target could affect India’s food security. In a written reply to the Rajya Sabha, Minister of State for Petroleum and Natural Gas Suresh Gopi said the government follows an open-ended procurement system at the Minimum Support Price, with priority given to procurement for the Public Distribution System, the National Food Security Act, other welfare schemes and prescribed buffer stocks.